How do you buy a business?

Buying a business is similar to buying any good or service in that an asset (the business) is identified, and if for sale, the two parties negotiate a deal for a purchase. Businesses can be found for sale online at websites like

Can a buyer or seller back out of a business purchase agreement?

Depending on the terms of a signed contract there may be scenarios, or outright clauses outlining the conditions which a party can back out of a transaction

Where can I find a business purchase agreement template?

There are templates online available for buyers and sellers. While generic it is still advised to have a legal professional review. Check for templates on

What are the next steps after signing a business purchase agreement?

Execution would be the next step, possibly transferring assets and debts from one party to another and fulfilling the contract in order to move to the closing process. 

About the Author

Kal Salem

Kal Salem

MA Accounting - Arizona State University

A CPA and finance professional working with small businesses to educate owners and grow alongside their businesses. Kal started his career in public accounting supporting SEC, regulatory, and both internal and external audits. He holds a Masters in Accounting and a BS in Supply Chain Management. Owner at Salem CPA...

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